Monaco have confirmed the signing of Colombian ace Radamel Falcao from Atletico Madrid.

The big money signing is the biggest coup Monaco have pulled off this summer following moves for James Rodriguez and Joao Moutinho.

"AS Monaco FC is delighted to announce that it has reached an agreement with Atletico Madrid and the player Radamel Falcao for his transfer to ASMFC, effective as of the 2013-2014 season,” read a Monaco statement.

“Radamel Falcao Garcia Zarate, the Colombian international forward, has signed a 5 year contract. The player will be introduced to the media in the course of pre-season training, at a future date to be confirmed by the Club.”